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Friday July 26, 8:01 am Eastern Time
Press ReleaseSOURCE: eFunds Corporation
eFunds Purchases Evergreen Teller Services, Inc.; Acquisition Enhances eFunds' Growing Focus on ATM BusinessSCOTTSDALE, Ariz., July 26 /PRNewswire-FirstCall/ -- eFunds Corporation (Nasdaq: EFDS - News), a leading provider of electronic payment, risk management, and related information technology and business-process- improvement services, today announced it has purchased Evergreen Teller Services, Inc., a California-based independent provider of ATM services. The contract purchase price was $9.4 million. Evergreen manages an ATM network and provides sales and service for more than 1,600 ATMs, mostly located in California and the northwest United States. eFunds is the largest non-bank ATM management company in North America and with this acquisition will manage approximately 14,300 ATMs in all 50 states and Canada. eFunds plans to consolidate the Evergreen ATM network into its Access Cash business over the coming months and plans to continue to look for acquisition candidates. "With the Evergreen acquisition we have taken another important step in our strategy to build through our Access Cash network an integrated system of ATM services, which includes sales, management, branding and advertising," said Gus Blanchard, Chairman and CEO of eFunds. "eFunds continues to believe there is untapped opportunity in ATM services and merchant processing among networks, financial institutions and retailers. We intend to expand the terminal network, and at the same time, improve the profitability of the machines already deployed." Blanchard said that eFunds is building its ATM business with a tremendous customer focus. "We are dedicated to taking care of new and existing customers. eFunds is focused on helping them increase revenues and on providing them with outstanding service." eFunds anticipates that the consummation of the transaction will contribute incremental revenues of approximately $7 million during the balance of the year. About eFunds eFunds delivers innovative, reliable and cost-effective technology solutions to meet its customers' payment and risk management, eCommerce and business-process-improvement needs. eFunds provides its services to financial institutions, financial services companies, electronic funds networks, retailers, government agencies, eCommerce providers, and other companies around the world. The company's ATM management services for merchants and small financial institutions include site deployment, servicing, terminal monitoring and cash replenishment. www.efunds.com About Evergreen Teller Services Evergreen Teller Services, which is among the top-10 non-bank ATM deployers, is focused on the technological leaps that are changing the way people approach financial transactions and information access, nationwide. Evergreen Teller Services owns and operates the TellerQuick(TM) ATM and Public Internet Teller networks. www.tellerquick.com SOURCE: eFunds Corporation
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